ESL releases update regarding the company’s response to the Ukraine war
The Estee Lauder Companies (ESL) suspended the company’s business investments and initiatives in Russia in early March in response to the Russian invasion of Ukraine. Additionally, the company has suspended all commercial activity in Russia, including closing all owned and operated stores as well as brand sites and shipments to any retailers in Russia. Furthermore, ESL has committed $1.0 million in support of relief efforts in Ukraine and the company will be donating ELC products to those in need.
ESG|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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